Melkior Exploration Update

2017-08-29 / @thenewswire

(TheNewswire)

Timmins, Ontario / TheNewswire / August 29, 2017 - Melkior Resources Inc. ("Melkior") is pleased to provide an update to ongoing exploration.

Drilling on the Carscallen Project is ongoing, the drilling budget has been extended to 3,400 m. Twelve holes (1,800 m) have been completed to date. The drill program has generally been implemented as described in the 2017 Exploration Plan available on the Melkior website (http://www.melkior.com/wp-content/uploads/MKR-2017-Exploration-Plan.pdf).

The twelve drill holes completed to date (Targets A through F) have validated some of the targets. Core samples have been submitted up to drill hole 6, assay result have only started to come in and will be released in batches as received.

The thirteenth drill hole of this drilling campaign (Target G, CAR-17-13, Az 250 -45, UTM 17 451735E 5356571N) is underway, currently at a depth of 452 m and as yet not terminated. CAR-17-13 has encountered significantly more interesting material than the other drill holes. Upon completion of CAR-17-13 a second parallel drill hole will immediately be constructed 50 meters north. Visual observations are encouraging, assays are expected to be received in about one month. Continued targeting is going to proceed based on visual observations.

A previously undocumented mineralized "whaleback" outcrop has been identified in the low lying swampy area 200 m due west of CAR-17-13. Rush assays from this new gold showing have returned assays up to 9.5 g/ton Au from grab samples. The mineralization is hosted in a silicified cataclastic zone in the granite that hosts a multi-episodic quartz vein (Az 290, -70E) up to 30 cm wide. One of the interesting sections observed in CAR-17-13 is thought to be the 200 m down dip extension of this new gold showing.

One additional strategic claim has been added to the Carscallen Township portfolio in close proximity to current operations.

Jim Deluce, CEO of Melkior comments, "Melkior is pleased that Target G provides us with a focus for continued drilling."

Wade Kornik, P.Geo., has approved the information contained in this release. Mr. Kornik is the Exploration Manager of the Company and is Qualified Person as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD

Keith James Deluce, CEO

For more information, please contact:

Melkior Resources Inc.

E-mail: info@melkior.com

Tel: 705-267-4000

The reader is invited to visit Melkior's web site www.melkior.com.

This news release may contain or refer to forward-looking information based on current expectations, including, but not limited the prospect of the Company achieving success in exploring the Carscallen Project and the impact on the Company of these event, including the effect on the share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.